The Australian Securities & Investments Commission (ASIC) reported that Victorian resident Antonio Stella has been sentenced to 11 months’ imprisonment and ordered to pay a pecuniary penalty of AUD 225,447.24 for insider trading in shares of Cann Group Limited. He is to be released upon entering a recognisance of AUD 1,000 with a 12-month good behaviour period. Stella pleaded guilty to two counts of insider trading while in possession of information about an upcoming Cann Group share placement prior to its public announcement in July 2021. ASIC alleged that between 19 and 20 July 2021 he sold 2,561,286 shares for AUD 954,886, and after the placement was announced on 26 July 2021 he reacquired 2,090,909 shares at the discounted placement rate; the trading activity resulted in a profit of AUD 204,490 and avoided losses of AUD 20,986. The matter was prosecuted by the Commonwealth Director of Public Prosecutions following an ASIC investigation and referral.
Australian Securities & Investments Commission 2025-10-07
Australian Securities & Investments Commission reports sentencing and AUD 225,447 penalty in Cann Group insider trading case
The Australian Securities & Investments Commission (ASIC) announced that Antonio Stella has been sentenced to 11 months in prison and fined AUD 225,447.24 for insider trading involving Cann Group Limited shares. Stella, who pleaded guilty, engaged in trading activities that yielded a profit of AUD 204,490 and avoided losses of AUD 20,986. The case was prosecuted by the Commonwealth Director of Public Prosecutions after an ASIC investigation.